Although an increasing number of financial transactions are being automated through the use of automatic teller machines (ATMs) and similar technology, the majority of cash transactions still involve a human cashier, sales clerk or other attendant who manually dispenses currency from a secure storage device. The storage device is typically a lockable cash drawer, also known as a till, associated with a cash register or similar sales terminal. The till traditionally has one or more fixed vertical separators which divide the storage compartment into subsections. Each of the subsections can accommodate a horizontal stack of currency (i.e., the front or back of each bill faces upward). Different denominations of currency, checks or other such laminar objects are stored in each stack. Single bills can be manually dispensed from the till by sliding them from the top of the stack.
The traditional till has several deficiencies with respect to the efficient storage and manual dispensing of currency. First, since currency in a manual till is seldom stored in stacks of bills more than about one-half inch (1/2") thick, the horizontal orientation of the currency being stored requires a relatively large horizontal till area (also known as footprint) per unit volume of stored currency. This greatly reduces the number of different currency denominations which can be separately managed in a till having a given footprint. Certain business activities, for example, currency exchange, can require a large number of different currencies to be available in several denominations each. In such cases, storing the currency in horizontal stacks requires a storage drawer with a very large footprint. This is especially problematic when the currency exchange activity is being conducted with a portable point of sale device, such as on an airplane or other transportation means. A need therefore exists, for a currency storage and manual dispensing apparatus that can store currency in an orientation requiring less horizontal till area per unit volume of stored currency than horizontal storage.
Second, the fixed dividers of a traditional till make it difficult to accommodate currencies having different lengths and widths. This is especially true when the currencies of different countries must be kept in a single till. Custom made tills can be produced to accommodate various sized currencies, but only if the sizes are known in advance. Even tills having movable dividers are typically adjustable only for currency width, rather than for both width and length. A need therefore exists, for a currency storage and manual dispensing apparatus which can be readily adjusted to accommodate currencies of different lengths and widths.
Third, while single bills can be manually dispensed from a conventional till with relative ease, the currency in a conventional till can also be readily pilfered (i.e., stolen) by dishonest bystanders if the cashier or attendant is momentarily distracted. The dishonest person can simply reach into the till and grab one or more entire stacks of currency in a single motion. This security issue is of particular concern in crowded settings such as in aircraft aisles, at sporting events, outdoor concerts and the like. A need therefore exists, for a currency storage and manual dispensing apparatus which allows efficient manual dispensing of stored currency but which prevents pilfering of the stored contents.